1798/7 $10 9x4 Stars, BD-1, High R.4, MS62+ PCGS....

Description

1798/7 Capped Bust Right Eagle, MS62+
Strong Overdate, Stars 9x4, BD-1
Among the Few Finest Known

1798/7 $10 9x4 Stars, BD-1, High R.4, MS62+ PCGS. Bass-Dannreuther Die State c/b. The Mint's penchant for getting the most out of its dies -- without being overly concerned with the date on the coins -- was on display across several denominations in 1798. The 1797 silver dollars come to mind, where the late die state 9x7 Large Letters silver dollars were actually struck and delivered in 1798. Some 1797-dated gold eagles were also struck in 1798, as well as some dated 1798. All of the 1798-dated tens are overdates, a feature that was of little concern to the Mint, but a source of great interest to today's collectors.

Numerous die cracks run through the obverse of this rare Mint State 1798 eagle, most prominently one from the rim through L of LIBERTY, faintly through the hair, to the field before stars 3 and 4. Another crack splits off from the first and runs forward into Liberty's spitcurl and face. Some light clash marks are evident on the cap. The reverse shows light cracks connecting UN and TED.

A few stray, thin contact marks, along with myriad fine hairlines and chatter in the left obverse field, keep this piece from an even higher grade. A few small marks on the neck of Liberty are consistent with the MS62+ grade. Some minor die-grease areas appear on the reverse, as made at the Mint. Rich orange-gold and wheat-gold coloration and overall good preservation make this coin a desirable and appealing example of this rare early gold variety.

Only two die marriages are known for the 1798/7 eagles, the BD-1 with stars arranged 9x4 and the BD-2 with stars arranged 7x6. The BD-1 1798/7 eagle is the only variety among the early eagles to employ the 9x4 star arrangement. The BD-1 is an elusive variety, with a surviving population of 80 to 100 pieces in all grades, but even so, it is far more available than the BD-2.

Of course, when one adds in the factor of conditional rarity, the present 1798/7 eagle in MS62+ PCGS is among the few finest survivors of this issue. This coin is the number 3 example in the Numismatic Detective Agency's Top Ten listing, compiled by prominent researcher Ron Guth (see listing below). We expect intense competition from series specialists and Registry Set enthusiasts when this lot is called.

1798/7 Capped Bust Right Eagle, BD-1
1. MS65 (not certified). Harold P. Newlin Collection, sold privately on 10/31/1884; T. Harrison Garrett Collection; Robert and John Work Garrett, by bequest; John Work Garrett; Johns Hopkins University; Garrett Collection, Part III (Bowers & Ruddy 10/1980), lot 1659 (as a raw MS65), realized $52,500.00; Harry W. Bass, Jr.; Harry W. Bass, Jr. Research Foundation Permanent Collection of U. S. Gold, Patterns and Currency (HBCC #3180).
2. MS63 NGC. Ketring Family Collection (Heritage, 7/2003), lot 10412 (as NGC MS63, realized $132,250.00.
3. MS62+ PCGS. New Orleans Collection (Heritage 4/2015), lot 5383, realized $188,000.00; New Orleans Collection, Part II (Heritage 6/2015); lot 4276, realized $199,750.00; Bob R. Simpson Collection. The present specimen.
4. MS62+ PCGS. John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr.; United States Gold Coin Collection (Bowers & Ruddy, 10/1982), lot 649 (as a raw MS62), realized $33,000.00; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2096, realized $258,500.00; Tyrant Collection (Coin 9, displayed at the 2/2020 Long Beach Expo as PCGS MS62+.
5. MS62 PCGS. Farish (William Gustav "Bill") Baldenhofer Collection (Stack's, 11/1955), lot 1439; Rarities Sale (Bowers & Merena, 8/1999), lot 421; Pre-Long Beach Auction (Superior 2/2000), lot 1176; Benson Collection, Part II (Goldberg Auctions; 2/2002), lot 2058 (as PCGS MS61), realized $51,750.00; FUN Signature (Heritage, 1/2004), lot 3056 (as PCGS MS61, realized $80,500.00; Pre-Long Beach Auction (Goldberg Auctions, 2/2007), lot 2387 (as PCGS MS62, cert. #10757716), realized $218,500.00; Pre-Long Beach Auction (Goldberg Auctions, 9/2008), lot 1274, not sold; Pre-Long Beach Auction (Goldberg Auctions, 2/2009), lot 1524, realized $178,250.00; Central States Signature (Heritage, 4/2014), lot 5761, realized $176,250.00.
6. MS61 PCGS. FUN Signature (Heritage, 1/2015), lot 4324, realized $117,500.00.
7. MS61 PCGS. Major William Boerum Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 32 (as a raw Extremely Fine), realized $77.00; unknown intermediaries; RARCOA, sold privately on 2/1/1975 to Harry W. Bass, Jr.; Bass Collection, Part III (Bowers & Merena, 5/2000), lot 561, realized $75,900.00.
8. MS61 PCGS. Rube Collection (Heritage, 8/2018), lot 5258 (as NGC MS61, realized $96,000.00.
9. MS61 NGC. Ohringer Family Trust Holdings, Part II (Goldberg Auctions, 9/2008), lot 1275, realized $138,000.00; Rarities Night (Stack's Bowers, 8/2012), lot 11730, not sold; Pre-Long Beach Auction (Goldberg Auctions, 1/2014), lot 1825, not sold; Rarities Night (Stack's Bowers, 8/2014), lot 13236, not sold.
10. Unc. Details -- Cleaned -- PCGS. FUN Signature (Heritage, 1/2019), lot 4682 (as PCGS AU Details, Cleaned), realized $36,000.00; Central States Signature (Heritage, 4/2019), lot 3895 (as PCGS Unc. Details, Cleaned), realized $33,600.00.

Coin Index Numbers: (Variety PCGS# 45720, Base PCGS# 8560)

Weight: 17.50 grams

Metal: 91.67% Gold, 8.33% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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